Which crypto exchange to use? Tearing my hair out...

in crypto •  7 years ago  (edited)

I have spent a few days reading review after review of different BitCoin/Crypto exchanges and I am no nearer to having the answer. So many of them have seriously negative reviews.

I went to a talk in CT about trading bitcoin and they highly recommended Bittrex, now I see negative review after negative review, plus I don't know how you transfer cash in to start trading crypto in the first place.

This is far more complicated than I ever imagined.

The site that makes the most sense to me is LocalBitcoins.com - it is peer to peer, you can see a dealers rating a bit like using Ebay.

Has anyone used this site and are you happy with it? Or do you recommend another site?

Etoro looks simple enough to me, but I don't think you ever actually own the crypto... they seem to own it and you have a dollar balance?

Very confused as to where to start in this process... any guidance welcome :)

Also I thought the whole idea of crypto currencies was to exchange it anonymously... but each site asks you for so much information and identification... I fear identity theft ...

crypto exchanges bitcoin cryptocurrency
7 years ago by

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      ·  7 years ago 

    There are many legitimate exchanges where you can buy btc. The thing is the more established the exchanges is the more information they aske from you. I personally use polyniex, bittrex and kraken and other smaller exchanges like yobit, coinexchange and bitgrail. You may also use GDAX or coinbase.

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        ·  7 years ago 

      Thanks ankarlie.... but have you had bad experiences with them at all? I just seem to read so much negative press about them all ... it is scary!

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          ·  7 years ago 

        There is certain amount of risk but it is not bad at all it goes with the territory. Try it for yourself and check it out. Most of the negative press are exaggerated. Start with small amounts and spread your investment to several exchanges so that you can also spread your risk.

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            ·  7 years ago 

          Cheers ... that makes sense :)

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